 "Majority shareholder Prakash Chhabria (right) claims business; cousin Deepak Chhabria contests claims")
In the ongoing battle for ownership of Finolex Group’s shares through its holding company, Orbit Electricals, promoter Prakash Chhabria is looking to remove his first cousin Deepak Chhabria, who runs Finolex Cables (FCL), in the next board meeting, expected within three months, sources say.
Prakash Chhabria, managing director of Finolex Industries (FIL) as well as the majority shareholder of Orbit Electricals, is moving to dismiss Deepak Chhabria, accusing him of destabilising the equilibrium of the group and tarnishing the brand via multiple lawsuits.
Finolex is derived from "fine" and flexible", the words that are supposed to project the attributes of
